Stories for September 2014

Tuesday, September 30

Contracts for future construction in San Diego County rose 35 percent from a year ago in the first eight months of 2014, with a value topping $3.1 billion, according to the latest data from McGraw Hill Construction.

San Diego-based Vanguard Space Technologies Inc. announced that it has been selected by Ball Aerospace & Technologies Corp. to produce the structure assembly for the L1-L2 lens assembly for the camera on the Large Synoptic Survey Telescope (LSST).

Acutus Medical Inc., a San Diego-based medical device company developing tools for treating complex cardiac arrhythmias, announced it has completed a $26.2 million financing round to continue developing its imaging and mapping system.

In advance of National Manufacturing Day on Friday, Oct. 3, a new local study finds that nearly 3,000 San Diego companies are engaged in the activity, and employ more than 94,000 workers who earn an average of $75,800.

San Diego-based Ambit Biosciences Corp. and Japanese-based Daiichi Sankyo Company Ltd. jointly announced that they have entered into a merger agreement under which Daiichi Sankyo will acquire all of the outstanding common stock of Ambit Biosciences for approximately $315 million on a fully diluted basis or $15 per share.

PriceSmart Inc., the San Diego operator of warehouse club stores in Latin America and the Caribbean, said it acquired 239,000square feet of land in Chorrera, Panama where it intends to open a new warehouse store in the summer of 2015.

The University of California, San Diego announced that one of the largest, most environmentally friendly battery-based storage systems in the United States will be installed at the university’s campus.

Sunday, September 28

San Diego-based Aethlon Medical Inc. and its diagnostic subsidiary, Exosome Sciences Inc., announced that a clinical collaboration with the Boston University CTE Center has been established to advance a blood-based diagnostic test that could identify chronic traumatic encephalopathy in living individuals – a disorder previously only detected upon autopsy.

San Diego-based AMN Healthcare Services Inc., a national provider of health care staffing services, announced the establishment of the Center for Professional Advancement to train the future health care workforce for rapidly changing roles at hospitals and health systems.

Small, medium and large businesses interested in qualifying for a state tax credit for creating new jobs can get more information at a free workshop Oct. 13 presented by the Governor’s Office of Business and Economic Development and the San Diego Regional Economic Development Corp. held at San Diego City College’s Corporate Education Center starting at 1 p.m.

Pulse Electronics Corp., the San Diego manufacturer of electronic components in China, said it decided to voluntarily delist its common stock from the New York Stock Exchange and deregister the shares with the federal Securities and Exchange Commission.

Ligand Pharmaceuticals Inc. announced that Merck &amp; Co. Inc., known as MSD outside the United States and Canada, has received approval for its drug candidate,Noxafil, which was created using technology enabled by Ligand’s Captisol.

Youngevity International Inc., a Chula Vista based direct marketer of gourmet coffees and other products, said the Green Coffee sales division of its wholly owned subsidiary, CLR Roasters, procured several new contracts for its shade-grown, Arabica green coffee distribution business that is expected to generate $2 million in gross revenue.

WORKFORCE: Demand Leads Companies in Key Industries to Fill Positions

San Diego-based Aethlon Medical Inc. and its diagnostic subsidiary, Exosome Sciences Inc., announced that a clinical collaboration with the Boston University CTE Center has been established to advance a blood-based diagnostic test that could identify chronic traumatic encephalopathy in living individuals – a disorder previously only detected upon autopsy.

MEDIA: Businessman Pursues Unusual Purchase Plan for Local Newspaper

Whether Doug Manchester sells the UT San Diego to a new nonprofit organization is still unclear, but one of the country’s largest daily newspapers, the Tampa Bay Times, has operated under that model for more than three decades.

PROPERTY: Climate Could Change as Sector Settles in With Reforms

An aging population and expanded insurance coverage are raising demand for health care services, but the exact demand picture for medical offices — in terms of size, format and location — still hasn’t come fully into focus in San Diego County.

MEDICINE: Machine Warms Blood Providing Temporary Relief

Roughly one in five adults in the United States lives with arthritis, and patients spend $15.6 billion per year on prescription drugs to treat the pain and inflammation associated with the joint disorder.

Ligand Pharmaceuticals Inc. announced that Merck & Co. Inc., known as MSD outside the United States and Canada, has received approval for its drug candidate,Noxafil, which was created using technology enabled by Ligand’s Captisol.

TOURISM: Extra Efforts Needed as Expansion of Center Hits Roadblock

Facing recent declines in overall convention attendance and the likelihood that an expansion won’t happen anytime soon, local tourism officials have launched a five-year plan to fill San Diego Convention Center with large group gatherings.

PHARMA: VC Firm, GSK Putting $10M Into Each C

Avalon Ventures LLC announced the launch of two biotech companies formed through its collaboration with British drugmaker, GlaxoSmithKline Plc. The partnership will funnel $495 million into 10 new biotech companies by 2016.

PROPERTY: Diverse Mix Of Projects Set for La Jolla

Property by property, La Jolla’s central Village area is being remade as several older buildings get new owners who are now making plans for upcoming townhomes, stores and restaurants, a performing arts center and a luxury movie theater.

MILITARY: Sequestration Pause Allows for Stability

Military spending — a foundation of the San Diego economy — is expected to wane only slightly for the next year with jobs attributed to such spending facing a 2 percent decrease in fiscal year 2015, according to a new study from SDMAC, the San Diego Military Advisory Council.

Small, medium and large businesses interested in qualifying for a state tax credit for creating new jobs can get more information at a free workshop on Oct. 13 presented by the Governor’s Office of Business and Economic Development

Youngevity International Inc., a Chula Vista based direct marketer of gourmet coffees and other products, said the Green Coffee sales division of its wholly owned subsidiary, CLR Roasters, procured several new contracts for its shade-grown, Arabica green coffee distribution business that is expected to generate $2 million in gross revenue.

Pulse Electronics Corp., the San Diego manufacturer of electronic components in China, said it decided to voluntarily delist its common stock from the New York Stock Exchange and deregister the shares with the federal Securities and Exchange Commission.

San Diego-based AMN Healthcare Services Inc., a national provider of health care staffing services, announced the establishment of the Center for Professional Advancement to train the future health care workforce for rapidly changing roles at hospitals and health systems.

A California federal judge on Sept. 24 canceled trademark registrations held by San Diego-based NuVasive Inc., a company developing medical devices for spine disorders, for the word “neurovision” after the company was found to have infringed its rival Neurovision Medical Products Inc.'s trademarks.

Lucia Capital Group, a San Diego wealth management firm whose principals include Ray Lucia Jr. and Joe Lucia, the son and nephew of longtime local financial advisor Ray Lucia, said it acquired West Coast Asset Management of Montecito, an advisory firm that manages about $170 million in assets.

The San Diego Business Journal is now accepting nominations for the 2014 Women Who Mean Business Awards, which recognizes the top women business leaders who have made a difference to San Diego’s businesses and organizations.

Regent Properties of Los Angeles has purchased a two-building Carlsbad property that includes the headquarters building of golf equipment maker TaylorMade-adidas for approximately $23.5 million, according to brokerage company Cassidy Turley.

Axesstel, a San Diego provider of telecommunications equipment, said it acquired Flexcomm Ltd., a Hong Kong based provider of wired and wireless routers and modems, in a deal that entailed Axesstel issuing 25 million shares of its common stock to Flexcomm stockholders.

Wednesday, September 24

Aethlon Medical Inc., a San Diego-based therapeutic device company, announced that it has entered into an agreement with Qualtran LLC that would expand human clinical studies of Aethlon’s Hemopurifier therapy to include individuals infected with dengue virus, a global health threat not currently addressed with approved drug or vaccine therapies.

Discount retailer Grocery Outlet plans an Oct. 2 opening at 1340 3rd Ave. in Chula Vista. It will be the 10th San Diego County location for the Emeryville-based company, with more local stores in development.

Pasadena-based Blaze Fast-Fire’d Pizza, a fast-casual restaurant chain that makes custom-made pies baked in high-temperature ovens, plans two San Diego County openings in October, bringing its total to three locations in the region.

Tuesday, September 23

A new, comprehensive look at the U.S. Department of Defense’s local presence predicts that the military spending that San Diego County enjoys will decline one percent in the new fiscal year, which begins on Oct. 1.

Guild Mortgage, a San Diego mortgage lender that has more than 200 branch and satellite offices in 23 states, said it acquired Comstock Mortgage, an independent mortgage lender in Sacramento with 15 offices.

Overland Storage, the San Diego data storage systems provider that entered into a definitive agreement to be acquired by a Canadian software company earlier this year, reported fiscal 2014 fourth quarter revenue of $24.2 million, up 101 percent from the like quarter of the prior fiscal year.

TR Hale LLC has purchased a 1.5-acre parcel of land in North Park for $7.7 million, with plans to develop an upscale, mixed-use apartment project, according to brokerage company Colliers International.

Japan Airlines Co. Ltd. and Kyocera Corp., which operates several subsidiary companies in San Diego, said they will jointly support the Tomodachi Hironomachi Delegation to the 24th Japan-America Grassroots Summit in that runs Sept. 23-30 in San Diego.

A Dallas buyer listed as Apartments at Little Italy LLC has purchased Broadstone Little Italy, a 203-unit apartment building in downtown San Diego, for $102.5 million, according to CoStar Group and public data.

Washington, D.C.-based commercial real estate services provider Cassidy Turley, which has a San Diego office, has entered into an agreement to be acquired by an affiliate of DTZ Investment Holdings, for an undisclosed price.

Lpath Inc., a San Diego-based company working on bioactive lipid-targeted therapeutics, announced that it has entered into definitive agreements to sell 3,605,042 registered shares of common stock and 3,605,042 unregistered warrants in a registered direct offering totaling $12.5 million.

The San Diego Supplier Development Council and the Women’s Business Enterprise Council West are collaborating for “Operation Opportunity — Key to Contracts,” a forum where speakers share strategies leading to coveted corporate and government contracts.

National University, a nonprofit institution of higher education, recently announced the grand opening of the Sanford Education Center and the national expansion of research-based initiatives aimed at empowering nonprofit leaders, educators and others serving the public good, the university said.

A Phoenix-based partnership of Hannay Realty Advisors and MDC Realty Advisors USA has purchased the Palomar Place retail center in Carlsbad for $15 million, according to brokerage company JLL, which represented the seller.

Legacy Partners Commercial Inc. plans more than $6.5 million in renovations at Sorrento Canyon Technology Center in Sorrento Mesa, which it purchased earlier this year in a joint venture with an affiliate of Goldman Sachs.

In last week’s column I encouraged readers to support the San Diego Regional Chamber of Commerce in their stated effort to make San Diego more business friendly. Little did I know how much work there is to do.

Renowned San Diego architect Frederick Liebhardt’s final design cantilevers down a hillside overlooking the San Diego Yacht Club, Point Loma, the city of San Diego, and the San Diego-Coronado Bridge — it is the definition of timeless architecture.

Of the 100 companies featured in the Aug. 18 issue of the San Diego Business Journal named among the “Best Places to Work” in San Diego County, only ten pay 100 percent of an employee’s health insurance premiums.

BENEFITS: Wellness Programs Are Part of Employee-Health Strategy

Employer wellness programs have grown rapidly in recent years in part to tackle skyrocketing health care insurance premium costs, with a side goal of improving the wellness and productivity of the workforce. Biometric screenings are a large part of wellness programs.

Charity for Hope, a multipurpose nonprofit, hosted its inaugural Industry Charity Golf Tournament recently at Sycuan Golf Resort. At the golf tournament, Charity for Hope presented a $5,000 academic scholarship to Leuva Patidar Samaj of USA, a nonprofit organization dedicated to preserving the Indian culture and educational community advancement. Donations from sponsors and more than 80 attendees will fund future community contributions, including existing nonprofit charitable organizations such as orphanages, hospitals, disaster relief foundations and educational funds for the less advantaged.

Kratos Defense & Security Solutions Inc. doesn’t exactly shout it from the rooftops, but electronics built by one of the San Diego company’s subsidiaries play a role in Iron Dome, Israel’s missile defense system which has been much in the news with the conflict in Gaza.

If a local restaurateur’s plans come to fruition, the next big arrival at the ever-evolving Liberty Station, in San Diego’s Point Loma neighborhood, will be a 21,000-square-foot public market that will put dozens of artisans and food vendors under one roof at the former Naval Training Center.

LAW: Threat of Shareholder Lawsuits Is Business as Usual For Acquisitions These Day

When San Diego-based Peregrine Semiconductor Corp. announced its decision to sell the company for a 63 percent premium above its market value, at least eight law firms announced investigations into the chip maker’s business the same day, alleging its shareholders were getting short-changed on the offer price.

AGRICULTURE: Co. Improves Crop Yield, Cuts Maturation Time

SGB Inc., a local agricultural biotech company, has closed an $11 million Series C financing round to help drive the commercial roll out of its hybrid crops — a low-cost and sustainable plant-based option for fuel, energy-producing biomass and protein in animal feed.

BIOTECH: Product’s First Target is Poultry Processing

Pure Bioscience Inc., a company in El Cajon, has acquired $7.9 million in private financing to continue development of its nontoxic antimicrobial, SDC, which can be sprayed directly on food to kill harmful bacteria such as salmonella and E. coli.

Legacy Partners Commercial Inc. plans more than $6.5 million in renovations at Sorrento Canyon Technology Center in Sorrento Mesa, which it purchased earlier this year in a joint venture with an affiliate of Goldman Sachs.

Thursday, September 18

Aiming to boost innovation and entrepreneurship in San Diego, University of California has announced plans for a venture capital fund to finance startups created on campuses, offering financial backing to the university-housed projects of which VC firms often steer clear.

Move over, Google Glass. A San Francisco-based company called ODG announced Sept. 18 that it plans to sell smart glasses powered by a high-end Snapdragon chip and Vuforia software, both from Qualcomm Inc.

Legend3D Inc., the Carlsbad company that converts two dimensional films to three-dimensional formats for movie studios, said founder, chief technical officer and chief creative officer Barry Sandrew left the company “to focus on entrepreneurial endeavors.”

PowerGenix, a San Diego developer and maker of nickel-zinc rechargeable batteries, entered into an agreement to sell an undisclosed equity stake to Nevada-based Blue Earth Inc. for $10 million, the latter firm announced.

Isis Pharmaceuticals Inc. announced that it has earned a $4 million milestone payment from San Fransisco-based Achaogen Inc. associated with the initiation of a Phase 3 study of plazomicin in patients with serious multi-drug resistant bacterial infections.

Huntington Capital, a San Diego private equity firm, said one of its portfolio companies, Residential Design Services, Inc., an outsourced interior designer, was acquired by another private equity firm, resulting in “a high return on investment.”

Imagenetix Inc., a San Diego-based company developing over-the-counter topical creams, skincare products and nutritional supplements, announced that its post-bankruptcy Plan of Reorganization was confirmed and all provisions of the plan were approved by Judge Margaret Mann of the United States Bankruptcy Court for the Southern District of California with an effective date of September 16, 2014, enabling the company to emerge from bankruptcy.

Kratos Defense & Security Solutions Inc. said on Sept. 16 that its Micro Systems subsidiary received a $4.8 million delivery order from the U.S. Navy for unmanned aerial drone system command-and-control systems and services.

Tuesday, September 16

San Diego-based Curtana Pharmaceuticals Inc. has announced that it will be relocating to Austin, Texas, following a $7.6 million grant from the Cancer Prevention and Research Institute of Texas (CPRIT) to fund the company’s lead cancer therapy.

HELF Investments LP of San Diego has purchased Canyon Hills Marketplace, a retail center in Lake Elsinore, for $33.5 million, according to brokerage company CBRE Group Inc., which represented the buyer and seller.

The U.S. Navy said on Sept. 16 that it awarded Carlsbad-based RQ Construction LLC a $6.7 million task order to renovate the sterile processing department at Naval Medical Center San Diego in Balboa Park.

San Diego-based Halozyme Therapeutics and Baxter International Inc. announced that the United States Food and Drug Administration approved Baxter’s subcutaneous treatment, HYQVIA, for adult patients with primary immunodeficiency.

Youngevity International Inc., a Chula Vista direct marketing business of gourmet coffees and other products, said is wholly owned subsidiary, CLR Roasters, completed a previously announced $4.35 million sale of secured convertible notes and warrants for an aggregate total of $4.75 million.

ResMed, a San Diego-based company that develops medical devices for sleep apnea and other sleep-related breathing disorders, announced that its AirView compliance management is now connected to Fairview Health Services' Epic EHR system, enabling up to date delivery of sleep apnea patient data for use by the medical staff of Fairview, a network of hospitals and clinics throughout Minnesota.

San Diego-based Viking Therapeutics Inc., a biotech company developing treatments for diabetes and metabolic disorders, has announced the estimated pricing of its initial public offering at $55 million – 5 million shares at a price range of $10 to $12.

RF Industries Ltd., a San Diego-based maker and distributor of wireless cable assemblies, reported fiscal 2014 third quarter sales of $5.5 million, down from $9.4 million in sales for the like quarter of 2013.

Volcano Corp. announced that it will be launching SyncVision, a precision guidance tool for coronary catheterizations, at the 27th Annual Transcatheter Cardiovascular Therapeutics (TCT) scientific symposium, being held in Washington, DC from September 13 to September 17.

San Diego Community College District officials said the 26,000-square-foot center includes state-of-the-art classrooms, laboratories, a command center, equipment staging and outdoor training areas, including a four-story drill tower.

Volcano Corp. announced that it will be launching SyncVision, a precision guidance tool for coronary catheterizations, at the 27th Annual Transcatheter Cardiovascular Therapeutics (TCT) scientific symposium, being held in Washington, DC from September 13 to September 17.

RF Industries Ltd., a San Diego-based maker and distributor of wireless cable assemblies, reported fiscal 2014 third quarter sales of $5.5 million, down from $9.4 million in sales for the like quarter of 2013.

San Diego-based Viking Therapeutics Inc., a biotech company developing treatments for diabetes and metabolic disorders, has announced the estimated pricing of its initial public offering at $55 million – 5 million shares at a price range of $10 to $12.

Economic growth, job creation, and maintaining global competitiveness have to be at the top of any congressional priority list. The Export-Import Bank is a key component in our country’s competitiveness strategy, supporting hundreds of thousands of jobs while promoting economic growth.

Late last month the San Diego Regional Chamber of Commerce announced that the organization was taking a new direction: political activism, advocacy and improved communications with members and nonmembers alike. The chamber’s ultimate goal is to make San Diego the most business friendly community in California.

In a single decade, Greg Lucier transformed a small biotech startup, Invitrogen Corp., with 1,500 employees into Life Technologies Corp., an international giant with more than 12,000 employees, 5,000 patents, 50,000 products and nearly $4 billion in sales in more than 180 countries.

TECH: Qubitekk Uses Lasers, Photons To Aid in Encryption

San Diego-based Abacus Data Systems Inc., which offers information technology services to the legal community, said on Sept. 4 that it opened a third office with 5,300 square feet and 50 work stations.

San Diego Gas & Electric announced it is seeking between 500 and 800 megawatts of new local resources to help replace the power previously provided by the San Onofre Nuclear Generating Station as well as the retirement of older, coastal power plants, the company said.

TOURISM: Good Room Metrics Boost Prices of Properties

San Diego topped all other California counties for the value of hotel property sales deals completed in the first half of 2014, according to the latest data from Atlas Hospitality Group, and the local region will likely see increasing scrutiny from investors amid continuing improvement in the hospitality economy.

San Diego is in the spotlight, making a lot of interesting lists these days … Consumer rating website betterdoctor.com ranks our region No. 25 based on the ratio of primary care doctors to the population. Greenville, S.C., tops that list with a doc for every 377 residents.

PROPERTY: Residential Plans Are Coming to Life

Developers have submitted plans for a 19-story mixed-use project that would bring 320 apartment units to East Village, the latest of several developments planned or under construction in the recently bustling neighborhood of downtown San Diego.

TRANSPORT: Cab Owner Says Market Can’t Handle More

TOURISM: Midway and Maritime Museum Draw Crowds to Their Ships

At a spot on the downtown waterfront, within sight of the exact place where Juan Rodriguez Cabrillo first sailed into what is now called San Diego Bay in 1542, workers are busily assembling a full-scale replica of the explorer’s Spanish galleon, known as the San Salvador.

SeaWorld Entertainment Inc. was hit with a shareholder lawsuit alleging the operator of three SeaWorld parks, including the original venue at Mission Bay, mislead investors by publicly stating declining attendance last year was caused by bad weather when it actually was the result of the documentary movie “Blackfish,” which alleged the company used questionable practices in the handling of its killer whales.

Wednesday, September 10

The San Diego City Employees Retirement System, the public pension fund for the city of San Diego, the San Diego Unified Port District, and the San Diego County Regional Airport Authority, said the $7 billion fund had an annual return, net of fees, of 17.3 percent for the fiscal year ended June 30.

Sempra Energy said its Cameron liquefied natural gas plant in Louisiana received final approval from the U.S. Department of Energy, allowing it to export gas to countries that do not have a free trade agreement with the United States.

MabVax Therapeutics Holdings Inc., a clinical stage oncology drug development company, announced that it has entered into agreements with Memorial Sloan Kettering Cancer Center and Juno Therapeutics for the development of therapeutic products using antibody targeting sequences derived from the fully-human antibodies discovered using the MabVax antibody discovery platform.

Avelas Biosciences Inc., a San Diego-based cancer diagnostic company, announced the closing of the second tranche of its Series B financing bringing the total funds raised in the round to $7.4 million.

The U.S. Air Force said on Sept. 10 that it awarded General Atomics Aeronautical Systems Inc. a $40.9 million order to develop requirements description documents for two versions of the Reaper unmanned aircraft system.

Northstar Memorial Group of Houston has purchased a cemetery and mausoleum building at Greenwood Memorial cemetery in southeast San Diego for approximately $8.5 million, according to CoStar Group and public data.

Novatel Wireless Inc., the San Diego maker of wireless solutions and modems, said it completed an investment transaction for $23.7 million with a subsidiary of HC2 Holdings Inc., a diversified holding company with operating subsidiaries in the United States and the United Kingdom.

National Funding, a San Diego-based private small business lender, said it entered into a loan agreement for $50 million with CapitalSource, a division of Pacific Western Bank, based in Los Angeles and a specialist in loans to small and mid-market businesses.

San Diego Gas & Electric announced it is seeking between 500 and 800 megawatts of new local resources to help replace the power previously provided by the San Onofre Nuclear Generating Station as well as the retirement of older, coastal power plants, the company said.

San Diego-based Aethlon Medical Inc. and its diagnostic subsidiary, Exosome Sciences Inc. announced that their researchers have developed and initially validated a diagnostic platform that could identify the presence of cancer in analyzed blood samples.

Piazza Santaluz LLC of San Diego has purchased a two-building retail center near the city’s Black Mountain Ranch neighborhood for approximately $6.37 million, according to CoStar Group and public data.

San Diego-based Abacus Data Systems Inc., which offers information technology services to the legal community, said on Sept. 4 that it opened a third office with 5,300 square feet and 50 work stations.

MystartupXX, a La Jolla-based organization aimed at helping women entrepreneurs in high tech startup businesses, was among 50 winners selected nationally by the U.S. Small Business Administration’s first Growth Accelerator Fund competition.

Friday, September 5

MystartupXX, a La Jolla-based organization aimed at helping women entrepreneurs in high tech startup businesses, was among 50 winners selected nationally by the U.S. Small Business Administration’s first Growth Accelerator Fund competition.

San Diego’s been noticed recently for the growth of our startup community, prompting Forbes to name San Diego the No. 1 city to be a startup. The intellectual capital coming from our three top universities and our 16 business incubators have helped nurture this growth. Overall, business innovation is thriving in San Diego.

The Building Owners and Management Association, or BOMA, recently collected a total of 206 backpacks, nearly 1,400 school supplies and raised more than $500 to donate to Promises2Kids to help make the back-to-school season brighter for the foster youth of San Diego. Kudos to BOMA for a successful backpack drive.

FINANCE: Low Rates On Loans, Higher Rates On Savings Draw Crowd

Credit unions continue to gain converts and recently surpassed the 100 million mark in membership, according to the Credit Union National Association, the trade group representing nearly 7,000 credit unions.

Now in its fifth year, the Dodd-Frank banking reform law has had a profound effect on every bank, but smaller community banks say they’re feeling the impact from the added regulations far more than larger banks.

When my three kids were little we had annual passes to what was then called the Wild Animal Park, now known as the San Diego Zoo Safari Park. It was a godsend, and some of our fondest memories were around our time there, especially at Christmas.

Biotech: The Device Is a Less Expensive Solution For Incurable Skin Disorders

Martyn Gross has suffered from psoriasis for most of his life, particularly on the difficult-to-treat regions of the hand and feet. After years of trying costly and ineffective treatments from uncomfortable phototherapy sessions in cold medical facilities to topical creams that wash off too easily, Gross decided to develop a handheld light therapy device to treat himself at home.

Omnitracs LLC, a spinoff business of Qualcomm Inc. that was acquired by Vista Equity Partners last year and is relocating to Dallas, said it agreed to acquire XRS Corp., a Minneapolis-based firm that makes software for mobile fleet management, for $5.60 per share or $178 million.

REAL ESTATE: Area Delivers Urban Appeal To Young Millennials

Downtown San Diego currently has about 2,000 apartments and condominiums in various stages of planning and construction, and two newly proposed mixed-use projects are slated to add another 386 to that total.

Senate Bill 1138, targeting the deliberate mislabeling of seafood, is one recent piece of lawmaking that could impact the local fishing industry, not to mention anyone involved in the food delivery chain.

TOURISM: City Will Get Much Needed Meeting Space

A $150 million resort development being planned in downtown Oceanside includes what would be that city’s first full-service hotel, as it seeks its share of a growing influx of North County coastal visitors and related economic benefits.

WD-40 Co., the San Diego based maker of lubricants and other household products, said it completed the acquisition of the business and assets of GT85 Ltd., a United Kingdom based company that sells multipurpose maintenance products.

Investor Matthew Rattner has purchased the 29-unit Windsong Apartments, in San Diego’s Rolando/SDSU neighborhood, for $3.95 million, according to brokerage firm Apartment Consultants Inc. (ACI), which represented the buyer and seller.

Florida-based Marilyn Monroe Spas, a national chain with salon services, beauty products and related offerings, recently opened a new location of its Marilyn Monroe 20 Nail Lounge at Del Mar Highlands Town Center, in San Diego’s Carmel Valley neighborhood.

Tuesday, September 2

Omnitracs LLC, a spinoff business of Qualcomm Inc. that was acquired by Vista Equity Partners last year and is relocating to Dallas, said it agreed to acquire XRS Corp., a Minneapolis based firm that makes software for mobile fleet management, for $5.60 per share or $178 million.

Legend 3D, the San Diego based business that converts two-dimensional film to three-dimensional formats, closed on a $10 million Series C stock offering, led by current investors, Northwater Capital Management Inc. of Toronto and Monaco-based Augustus Ventures Limited.

Novatel Wireless Inc., which is rebuilding its executive suite following a change in the board’s composition, said on Sept. 2 that it named Michael Newman its executive vice president and chief financial officer.